Day: December 3, 2022

Genesis Owes Gemini Customers $900 Million, Exchange Is Attempting to Recoup Assets – Bitcoin News

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According to a recent report from the Financial Times (FT), Genesis Global Capital allegedly owes $900 million to Gemini customers. The exchange operated by Cameron and Tyler Winklevoss is attempting to recover the funds from Genesis, according to FT’s sources. Report Claims Genesis Owes the Winklevoss-Operated Exchange Gemini $900 Million FT reports that the centralized crypto asset exchange created by the Winklevoss brothers is owed $900 million and reportedly Genesis Global Capital is the debtor. People familiar with the matter told FT that Gemini was in the process of trying…

TRON Upbeat And Registers $1 Billion In Stablecoin Inflow

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TRON (TRX) remains in a stagnant phase, refusing to make any kind of momentum for an upward run despite a number of positive developments that, in many cases if not all, should have helped trigger a significant price movement. Let’s consider this summary: TRON’s seven-day jump was less than 2% During the last 30 days, TRX has already lost 12% of its value Tron blockchain enjoys a significant boost in its stablecoin inflow Instead, the asset continues to consolidate within a narrow range and is not showing any signs of…

Crypto lender Genesis allegedly owes $900M to Gemini’s clients: Report

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Crypto lender Genesis and its parent company Digital Currency Group (DCG) allegedly owes $900 million to Gemini’s clients, according to a Financial Times report disclosed on Dec. 3 citing people familiar with the matter.  The issue derives from the FTX dramatic collapse in November. Crypto exchange Gemini operates a product called Gemini Earn in partnership with Genesis, offering investors the opportunity to earn 8% in interest by lending out their crypto, including Bitcoin and stablecoins pegged to fiat currencies. On Nov. 16, Genesis announced it had temporarily suspended withdrawals citing “unprecedented…

QNT Remains Near Multi-Week High, XMR up for Fifth Straight Session – Market Updates Bitcoin News

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Quant was one of the biggest gainers to start the weekend, as price remained close to a multi-week high. This comes as cryptocurrency markets were marginally higher, following Friday’s volatile session. Monero was also higher on Saturday, as the token extended its recent gains for a fifth consecutive day. Quant (QNT) Quant (QNT) was trading near a multi-week high on Saturday, as prices rallied above a notable resistance point. QNT/USD rose to an intraday high of $131.95 to start the weekend, less than a day after it fell to a…

The future of smart contract adoption for enterprises

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Decentralized finance (DeFi) markets may have cooled down over the past year, but the technology powering these applications continues to advance. In particular, smart contract platforms that enable transactions to take place across DeFi applications are maturing to meet enterprise requirements.  While it’s notable that enterprises have previously shown interest in DeFi use cases, smart contract limitations have hampered adoption. A report published by Grayscale Research in March puts this in perspective, noting that “Despite handling millions of transactions per day, smart contract platforms in their current state would be…

MANA Bloats 3.5% In Last 24 Hours, And Traders Now Smell Profit

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MANA, the cryptocurrency used as payment for goods and services in the metaverse project Decentraland, has already lost 33% of its value over the last 30 days. After going all the way up to $0.7339 on November 5, the asset was on a consistent decline that pulled it down to a monthly low of $0.3611 on November 22. Below, a summary of how MANA has been performing in the last few days: MANA registered an increase of more than 6% over the last seven days The crypto asset succeeded in…

BTC Consolidates to Start the Weekend – Market Updates Bitcoin News

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Bitcoin was consolidating to start the weekend, as prices once again fell below $17,000. The move comes as traders continued to digest the latest U.S. nonfarm payrolls report. Ethereum was also marginally lower in today’s session, with price dropping below a key resistance point. Bitcoin Bitcoin (BTC) was consolidating to start the weekend, following the U.S. nonfarm payrolls (NFP) report. Figures yesterday showed that 263,000 jobs were added to the American economy, better than the 200,000 markets had expected. This rise in jobs has left cryptocurrency markets unsure on what…

FTX Disaster Triggers Major Selloff In The Price Of Solana (SOL)

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Solana (SOL), post-FTX life, has been very rough. On a monthly and biweekly time frame, CoinGecko data shows bearishness, while daily and weekly time frames show modest appreciation. What this proves is that the wounds left by the demise of FTX have not been healed by Solana’s native token. Ever since FTX collapsed, SOL has been losing a huge amount energy. As bearish signals continue to emerge from technical analysis, the price decrease is likely to continue. It’s possible that prices will fall down below the 61.80 Fibonacci level, which is…

Stellantis Owned Fiat Launches Metaverse Store Using Touchcast and Microsoft Tech – Metaverse Bitcoin News

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Fiat, an automotive brand property of Stellantis, has launched its first metaverse-based store, which the company claims is the first showroom of its kind. The experience, which was developed with tech supplied by Touchcast and Microsoft, aims to make the virtual process of reviewing a car more interactive. Fiat Introduces Metaverse-Based Store Fiat, an automotive brand property of one of the top ten car manufacturers in the world, Stellantis, has launched its first virtual metaverse store. The company will allow customers to try the experience they will have inside and…

Avalanche to power Alibaba Cloud’s infrastructure services in Asia

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Alibaba Cloud, a.k.a Aliyun, a subset of Chinese e-commerce giant Alibaba, announced an integration with Avalanche blockchain to power the company’s Node-as-a-Service initiatives.  Avalanche’s partnership with Alibaba Cloud will see the development of tools that enable users to launch validator nodes on Avalanche’s public blockchain platform in Asia. The integration will allow Avalanche developers to use Alibaba Cloud’s plug-and-play infrastructure as a service to launch new validators. Developers expecting high resource demands during peak hours can also tap into additional resources — computing, storage, and distribution — offered by Alibaba…